Mandolin celebrated its first birthday in October, but the Indianapolis-based startup has already announced a $12 million Series A. This is a quick follow-up to the $5m seed it raised in October last year. It turns out that the global pandemic is an excellent time to launch and grow concert streaming platforms.645 Ventures and Foundry Group co-led the round, which was oversubscribed and included additional funding from existing investors such as High Alpha Ventures and TIME Ventures (Marc Benioff).The question is, however, what happens to Mandolin as the world opens up again? Concert livestreams saw a huge boost because artists and fans were looking for a way to get their music out while touring was halting. What's more, venues are reopening.Live+ will be a must-have digital supplement that enhances live performances as artists return to performing at sold-out venues. CEO Mary Kay Huse stated in a press release. We will be able to innovate our core solution, deliver new digital offerings and strengthen our routes to market so that every show can be Live+.That's not a bad idea. The simple answer is that the company was looking to enhance the in-person event, before the inevitable reopening. The company is looking to create a companion app for shows.Huse said to Variety last week that he would love for up to 50% of attendees to experience something digitally in person. This could be done as soon as possible before the end the year. They just need to be able to create compelling content that encourages them to take part.The company will continue to concentrate on streaming, which may be a hit but isn't going away post-pandemic. Nnamdi Okike, 645 managing partner, has also joined the company's board.Okike stated that livestreaming was a major breakthrough during COVID-19. It has made it possible for fans to see their favorite artists live, as well as venues and artists who want to host exciting live events. Mandolin offers the best technology platform for these experiences and they are also growing the company to meet the demands of this rapidly-growing market.
